Hyderabad: Drillmec SpA, a global company for design, manufacturing and supply of rigs for onshore and offshore applications will established global manufacturing base in the state with a proposed investment of 1500 crore which will create employments opportunities for around 2500 people.
At the global centre, manufacturing, research, and development facilities, as well as a Centre of Excellence for training employees, will be available.
Drillmec, a subsidiary of the Megha Engineering & Infrastructures Limited (MEIL) Group, a global multi-sector conglomerate based in Hyderabad, has signed an agreement with the State’s Department of Industries to establish a Drillmec International Hub in Telangana to manufacture oil rigs and ancillary equipment.
State Industries Minister KT Rama Rao said,“We feel proud and welcome Drillmec which will establish its manufacturing unit near Hyderabad. Telangana is a landlocked State and therefore State is not a captive customer to the company,”
“However, the company opted to be in Telangana even as there were options in other States. It reflects the progressive policies being implemented in the State. The State will work to support the company by handing over the required land and fiscal incentives as well,” he added.
Chief Executive Officer, Drillmec SpA, Simone Trevisian said, “We are interested in future investment in the Hydrogen fuel project in India. The Hyderabad manufacturing hub will focus on rig manufacturing and ancillaries. This facility will also sets up the R&D and training centre of excellence. We have three manufacturing facilities in Italy, USA (Houston), and Belarus. After considering many offers from various countries, we choose India and Telangana as the state has a progressive industrial policy and is investor-friendly.”
